Guardant Health (NASDAQ:GH) Shares Gap Up to $29.05

Guardant Health, Inc. (NASDAQ:GH)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $29.05, but opened at $30.00. Guardant Health shares last traded at $29.23, with a volume of 83,994 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GH. Jefferies Financial Group began coverage on shares of Guardant Health in a report on Monday, June 3rd. They issued a “buy” rating and a $32.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Guardant Health in a report on Friday, May 24th. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday. Craig Hallum assumed coverage on shares of Guardant Health in a report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and an average price target of $36.83.

Guardant Health Price Performance

The company’s 50 day moving average price is $24.98 and its 200-day moving average price is $22.98. The stock has a market cap of $3.53 billion, a P/E ratio of -7.37 and a beta of 1.15. The company has a quick ratio of 5.66, a current ratio of 5.95 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.94). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The firm had revenue of $168.49 million during the quarter, compared to the consensus estimate of $150.51 million. As a group, sell-side analysts expect that Guardant Health, Inc. will post -3.31 earnings per share for the current year.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Guardant Health by 1.4% in the third quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock worth $324,565,000 after purchasing an additional 146,902 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Guardant Health by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock worth $16,840,000 after purchasing an additional 16,111 shares during the period. Norges Bank acquired a new stake in Guardant Health in the fourth quarter worth $25,520,000. Wellington Management Group LLP grew its holdings in Guardant Health by 24.1% in the fourth quarter. Wellington Management Group LLP now owns 834,084 shares of the company’s stock worth $22,562,000 after purchasing an additional 161,986 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Guardant Health by 151.0% in the fourth quarter. Hsbc Holdings PLC now owns 43,532 shares of the company’s stock worth $1,182,000 after purchasing an additional 26,191 shares during the period. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.